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2023-09-30-accounts

REGISTERED COMPANY NUMBER: 12852476 (England and Wales) REGISTERED CHARITY NUMBER: 1201389

Trustees' Report and

Unaudited Financial Statements for the Year Ended 30th September 2023

for

FINE ISLAMIC CENTRE

Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR

FINE ISLAMIC CENTRE

Contents of the Financial Statements FOR THE YEAR ENDED 30TH SEPTEMBER 2023

Page
Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12
Detailed Statement of Financial Activities 13

FINE ISLAMIC CENTRE

Reference and Administrative Details FOR THE YEAR ENDED 30TH SEPTEMBER 2023

TRUSTEES M Abdallah Trustee B K B Al-Khateeb Trustee M M Al-Qasim Trustee REGISTERED OFFICE Office LG06, 1 Quality Court Chancery Lane London WC2A 1HR PRINCIPAL ADDRESS 95 Bloemfontein Road London W12 7DA REGISTERED COMPANY 12852476 (England and Wales) NUMBER REGISTERED CHARITY 1201389 NUMBER INDEPENDENT EXAMINER Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR BANKER Metro Bank One Southampton Row London, WC1B 5HA

Page 1

FINE ISLAMIC CENTRE

Trustees' Report FOR THE YEAR ENDED 30TH SEPTEMBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Fine Islamic Centre, a registered charity in the UK, was formed in 2021. The centre's purpose is to advance the Islamic faith through the provision of a wide range of spiritual, educational and social services enriched with Islamic values that fulfil the needs of the Muslim and the wider community. The Centre is governed by the Constitution which set out the rules and aims of the Fine Islamic Centre. The trustees, who also serve as directors for Fine Islamic Centre under company law, bear the responsibility for preparing financial statements in compliance with the Companies Act 1985 and United Kingdom Accounting Standards.

Significant activities

We continue to focus on the aims and objectives of the charity, all of the following activities are in line with the aims of the charity as outlined in the constitution.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. These activities fit within the following descriptions of charitable purposes as set out in the Charities Act, for the benefit of the public

Volunteers

Most of the charity's activities involve volunteers in the delivery of its activities. We are, as always, grateful to these volunteers in making the activities of our centre a spiritual and pleasant experience for the public.

Page 2

FINE ISLAMIC CENTRE

Trustees' Report FOR THE YEAR ENDED 30TH SEPTEMBER 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Our main achievement during this challenging year was to be able to help those in need in our community despite the pandemic and the risks to health. The pandemic has affected economically but we tried our best to help as much as possible through food bank and buying basic essentials.

Fine Islamic Centre has provided religious facilities for prayers, seminars and gatherings. The organisation has provided after school provision for children from the local area; this includes development of their religious understanding of Islam and other religions, academic studies and sporting and leisure opportunities. The organisation has also hosted a number of events for local schools, colleges and university students to give them an insight into Islam as part of their religious education studies. The organisation has held a number of health and well-being workshops with registered health professionals. The organisation also provides a number of ladies only events, which fulfils a growing local demand. The organisation has also contributed to other charities who are better equipped to deal with charitable causes.

EVENTS DURING THE YEAR

Local fundraising events to engage with the community & to provide information about the charity's mission.

These events serve not only as crucial fundraising opportunities but also as occasions to build community engagement, raise awareness, and promote the charitable organisation' mission throughout the year.

FINANCIAL REVIEW

Financial position

Donations from the public and cash raised from fund raising events continue to be the source of the Charity's general fund to meet on-going and future projects and activities. Sound financial management and generous support of volunteers continues to be the cornerstone of the charity.

Reserves policy

The charity has a reserve policy, which identifies a minimum level of unrestricted reserve to ensure its core activity could continue during a period of difficulty and to take account of potential risks and emergencies that may arise from time to time.

An analysis of expenditure is shown in the Statement of Financial Activities on page 10 & 11.

The reserves currently stands at £26,033 and details are as follows:

Unrestricted funds £26,033

Restricted funds £0

FUTURE PLANS

The charity endeavours to work on

Page 3

FINE ISLAMIC CENTRE

Trustees' Report

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

COMPLAINTS HANDLING

We have a complaints policy in place, and a complaint can be submitted to us through various channels, including in person, by telephone, via email, or using our website's contact form. All complaints will be handled in accordance with our policy.

GENERAL DATA PROTECTION REGULATION (GDPR)

Fine Islamic Centre adheres to the GDPR principles of lawfulness, transparency confidentiality and accountability. We document and regularly review all data processing activities to ensure transparency and compliance with GDPR requirements.

IT & Data Storage

Fine Islamic Centre is reliant upon electronically stored data. However, the damage to our computer systems will not disrupt any of our operations. This is because copies of all our data have been made to keep the information, we have secure.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ M M Al-Qasim - Trustee

Page 4

Independent Examiner's Report to the Trustees of Fine Islamic Centre

Independent examiner's report to the trustees of Fine Islamic Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

U Zahoor

Usman Zahoor (FCCA) The Association of Chartered Certified Accountants

Silver Arc Chartered Certified Accountants 1 Quality Court Chancery Lane London WC2A 1HR Date: ............................................. 07/08/2024

Page 5

FINE ISLAMIC CENTRE

Statement of Financial Activities FOR THE YEAR ENDED 30TH SEPTEMBER 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
2
Religious trips
-
Mosque & Community
65,121
Total
65,121
EXPENDITURE ON
Charitable activities
3
Ramadhan
3,420
Religious trips
-
Mosque & Community
31,039
Total
34,459
NET INCOME/(EXPENDITURE)
30,662
Transfers between funds
9
(1,453)
Net movement in funds
29,209
RECONCILIATION OF FUNDS
Total funds brought forward
(3,176)
TOTAL FUNDS CARRIED FORWARD
26,033		 Restricted
fund
£
107,755
-
107,755
-
109,208
-
109,208
(1,453)
1,453
-
-
-		 30/9/23
Total
funds
£
107,755
65,121
172,876
3,420
109,208
31,039
143,667
29,209
-
29,209
(3,176)
26,033		 30/9/22
Total
funds
£
46,494
35,821
82,315
5,475
53,422
26,594
85,491
(3,176)
-
(3,176)
-
(3,176)

The notes form part of these financial statements

Page 6

FINE ISLAMIC CENTRE

Balance Sheet 30TH SEPTEMBER 2023

30/9/23 30/9/22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
CURRENT ASSETS
Cash at bank 44,185 - 44,185 16,565
CREDITORS
Amounts falling due within one year 8 (18,152) - (18,152) (19,741)
NET CURRENT ASSETS/(LIABILITIES) 26,033 - 26,033 (3,176)
TOTAL ASSETS LESS CURRENT
LIABILITIES 26,033 - 26,033 (3,176)
NET ASSETS/(LIABILITIES) 26,033 - 26,033 (3,176)
FUNDS 9
Unrestricted funds 26,033 (3,176)
TOTAL FUNDS 26,033 (3,176)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. M M Al-Qasim - Trustee

The notes form part of these financial statements

Page 7

FINE ISLAMIC CENTRE

Notes to the Financial Statements FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INCOME FROM CHARITABLE ACTIVITIES

Activity
Umrah Donations
Religious trips
Donation Lilah
Mosque & Community		 30/9/23
£
107,755
65,121
172,876		 30/9/22
£
46,494
35,821
82,315

continued...

Page 8

FINE ISLAMIC CENTRE

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023

3. CHARITABLE ACTIVITIES COSTS

Ramadhan
Religious trips
Mosque & Community
4.
SUPPORT COSTS
Mosque & Community		 Support
Direct
costs (see
Costs
note 4)
£
£
3,420
-
109,208
-
28,764
2,275
141,392
2,275
Governance
Finance
costs
£
£
475
1,800		 Totals
£
3,420
109,208
31,039
143,667
Totals
£
2,275

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022.

6. STAFF COSTS

Wages and salaries 30/9/23
30/9/22
£
£
2,430
-
2,430
-
The average monthly number of employees during the year was as follows:
Engaged on management and administration		 30/9/23
30/9/22
1
-

No employees received emoluments in excess of £60,000.

continued...

Page 9

FINE ISLAMIC CENTRE

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities
Religious trips - 46,494 46,494
Mosque & Community 35,821 - 35,821
Total 35,821 46,494 82,315
EXPENDITURE ON
Charitable activities
Ramadhan 5,475 - 5,475
Religious trips 6,928 46,494 53,422
Mosque & Community 26,594 - 26,594
Total 38,997 46,494 85,491
NET INCOME/(EXPENDITURE) (3,176) - (3,176)
TOTAL FUNDS CARRIED FORWARD (3,176) - (3,176)
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors 30/9/23
£
14,552		 30/9/22
£
17,941
Accrued expenses 3,600 1,800
18,152 19,741
9. MOVEMENT IN FUNDS
Unrestricted funds At
1.10.22
£		 Net
movement
in funds
£		 Transfers
between
funds
£		 At
30.9.23
£
General fund (3,176) 30,662 (1,453) 26,033
Restricted funds
Restricted fund - (1,453) 1,453 -
TOTAL FUNDS (3,176) 29,209 - 26,033

continued...

Page 10

FINE ISLAMIC CENTRE

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
65,121
Restricted funds
Restricted fund
107,755
TOTAL FUNDS
172,876
Comparatives for movement in funds
At
1.10.21
£
Unrestricted funds
General fund
-
TOTAL FUNDS
-
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
35,821
Restricted funds
Restricted fund
46,494
TOTAL FUNDS
82,315		 Resources
Movement
expended
in funds
£
£
(34,459)
30,662
(109,208)
(1,453)
(143,667)
29,209
Net
movement
At
in funds
30.9.22
£
£
(3,176)
(3,176)
(3,176)
(3,176)
Resources
Movement
expended
in funds
£
£
(38,997)
(3,176)
(46,494)
-
(85,491)
(3,176)

continued...

Page 11

FINE ISLAMIC CENTRE

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
Transfers
At
movement
between
At
1.10.21
in funds
funds
30.9.23
£
£
£
£
-
27,486
(1,453)
26,033
-
(1,453)
1,453
-
-
26,033
-
26,033

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
100,942
154,249
255,191		 Resources
Movement
expended
in funds
£
£
(73,456)
27,486
(155,702)
(1,453)
(229,158)
26,033

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2023.

Page 12

FINE ISLAMIC CENTRE

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30TH SEPTEMBER 2023

Detailed Statement of Financial Activities
FOR THE YEAR ENDED 30TH SEPTEMBER 2023
30/9/23 30/9/22
£ £
INCOME AND ENDOWMENTS
Charitable activities
Donation Lilah 65,121 35,821
Umrah Donations 107,755 46,494
172,876 82,315
Total incoming resources 172,876 82,315
EXPENDITURE
Charitable activities
Wages 2,430 -
Rates and water - 17,941
Postage and stationery 602 -
Advertising 360 -
Iftar 3,420 5,475
Religious trips 109,208 53,422
Event Cost 5,647 4,891
Donation made 325 -
Rent 12,000 -
Cleaning 120 -
Premises repairs and renewals 5,735 1,010
Caretaker Cost 1,545 -
Support costs 141,392 82,739
Finance
Bank charges 475 -
Governance costs
Consultancy - 952
Independent examiner's fee 1,800 1,800
1,800 2,752
Total resources expended 143,667 85,491
Net income/(expenditure) 29,209 (3,176)

This page does not form part of the statutory financial statements

Page 13